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Covanta schedules 1Q17 report ?2
16:54 13-Apr-17
Covanta is set to deliver the report on its first quarter before the market opens on April 26th. The average projection from analysts is for a loss of 20 cents per share on $401M with current quarter revenue climbing to $418M.
Note that Q1 & 2 are seasonally weak in terms of EPS. Thus
the Goldman downgrade
that brought the stock down from the $16 level at the beginning of
March was well-timed, but only in terms of gaming the short-term
market, so far as I am concerned. I see the rebound on continued
volume immediately after CVA went ex-dividend on
March 28th as evidence of institutional chicanery and I made good
money there by NOT trying to time the market.
The next dividend won't come around until the end of June, so I
don't expect this report to change the stock's dynamic
immediately. Personally, I will continue looking to the
long-term, and listening for updates on the company's metal
processing, ash use and international expansion initiatives.